ASB
| # | Post |
|---|---|
| 1 | First bank to cut lending on investment property to 70% max. I wonder if others will follow suit. jeffqv - 2020-11-12 17:12:00 |
| 2 | What is classified as 'investment' property? IMO it is a term that is bandied around at the moment and targeted at anybody who has a property that is not their place of primary residence. brouser3 - 2020-11-12 17:18:00 |
| 3 | brouser3 wrote:
Pretty much! jeffqv - 2020-11-12 17:22:00 |
| 4 | That was their max 15 years ago when we were investing - they were never terribly investor friendly bank (even though they are my main bank I use for personal banking) lissie - 2020-11-12 17:57:00 |
| 5 | jeffqv wrote: not till march thou? gabbysnana - 2020-11-12 18:24:00 |
| 6 | gabbysnana wrote: Unless its March tomorrow, no. Immediate. sparkychap - 2020-11-12 19:30:00 |
| 7 | ANZ have followed but effective 7 Dec. logo - 2020-11-15 14:54:00 |
| 8 | gabbysnana wrote:
This is the expected date for RBNZ ruling, ASB, ANZ and Westpac already made their call which I think is the right thing to do. By delaying RBNZ are pouring jet fuel onto an already overheated market. jeffqv - 2020-11-16 09:43:00 |
| 9 | jeffqv wrote:
I guess that’s what their aim is then? They are sweet talking us all with the illusion of wealth, booming economy, prices only ever go up etc etc deendon1 - 2020-11-16 13:09:00 |
| 10 | jeffqv wrote:
With the LRV restrictions I see that ANZ is effective from 7 December but have they with westpac started this restriction already and how about BNZ & kiwibank I am assuming that these restrictions will cool the market and make it easy for first time buyers with 20% deposit. My son is a first time buyer and boy do I feel sorry for him, no sooner is something on the market it has multi offers for silly figures. Any advice for a first time buyer, his finance is pre approved so many deadline sale, price by negotiation and auctions. TIA jersey-bean - 2020-11-17 18:08:00 |
| 11 | jersey-bean wrote: cassina1 - 2020-11-17 21:21:00 |
| 12 | thanks Cassina1 - lets hope the market slows its crazy out there jersey-bean - 2020-11-18 07:58:00 |
| 13 | Even if there are some forced sales because mortgagees are unable to continue their repayments, there will still be plenty of cashed up buyers returning to New Zealand competing with the first home buyers to buy them. The current owner might have to sell but that doesn’t mean the property will be at a bargain price. lovelurking - 2020-11-18 08:29:00 |
| 14 | Changing LVR's in my opinion won't change the market much. In reality most investors will own family homes and maybe one or two rentals. All of their current properties have seen significant growth in value in the last 5 years and thus they will have a large amount of equity. The equity will be ample to allow a larger LVR. The only investors this will stop are those who are negative geared all ready. A small percentage these days I'd say? The only way to change the market is change the supply and demand ratio but with 30,000 more people moving back to NZ soon this won't happen for some time. It takes too long to build new subdivisions in this country and all Councils are hemorrhaging money trying to keep up with new infrastructure. carstauranga001 - 2020-11-18 19:36:00 |
| 15 | thanks Lovelurking and carstauranga jersey-bean - 2020-11-19 18:52:00 |
| 16 | In the NZ Herald That means all four major banks now have their investor lending policies back to where they were pre-Covid, when Reserve Bank restrictions were still in place." aklreels - 2020-11-25 00:30:00 |
